BTG, Ekos Corp., Nordion deal
BTG announced a pair of deals last week with Nordion and Ekos. BTG will acquire TheraSphere liver cancer therapy from Nordion for $200 million. The product, which had revenues of $48 million for the fiscal year ended Oct. 31, 2012, is marketed in the U.S. under a Humanitarian Device Exemption (HDE) to treat unresectable hepatocellular carcinoma (HCC) and HCC in patients with portal vein thrombosis. TheraSphere - yttrium-90 glass microspheres used for localized radioembolization therapy - is approved in Europe and Canada to treat hepatic neoplasia. Jefferies advised Nordion. JPMorgan, Osler, Hoskin & Harcourt, Allen & Overy and N.M Rothschild advised BTG.
BTG also will acquire medical device company Ekos for $180 million up front, plus up to $40 million in milestones. Ekos, which had 2012 product sales of $28 million, markets its EkoSonic endovascular system in the U.S. and EU to treat severe blood clots. EkoSonic delivers thrombolytic drugs and ultrasound through a catheter to break clots. Both deals are subject to shareholder approval. Deutsche Bank is financial adviser for BTG on the acquisition. Stephenson Harwood, Morgan Lewis and N.M. Rothschild were advisors. ...